Niyati Shetty

Australian shares fall as Fed rate cut fails to rein in virus fears; NZ slips

Mar 03 2020

March 4 Australian shares fell on Wednesday as investors fled to the safety of bonds on fears that the U.S. Federal Reserve's emergency interest rate cut would not be enough to buffer the global economy from the widening fallout of the coronavirus.

Australian shares rebound 2% on RBA rate-cut hopes; NZ jumps

Mar 02 2020

March 3 Australian shares rose 2% on Tuesday after seven straight sessions of declines, as investors priced in a possible rate cut by the central bank to help cushion an economic blow from the coronavirus outbreak.

Australian shares fall to 9-month low after dismal China manufacturing; NZ down

Mar 01 2020

* Australia's financial regulators in emergency meeting - source

Australian shares fall further as pandemic fears mount; NZ down

Feb 25 2020

Feb 26 Australian shares fell more than 2% on Wednesday, extending losses into a fourth session, after U.S. health officials warned of a domestic coronavirus outbreak amid its rapid spread to more countries beyond China.

Australia, NZ shares drop as virus spread beyond China rattles sentiment

Feb 23 2020

* Air New Zealand cuts outlook due to virus impact, shares fall

UPDATE 2-NZ's Synlait flags hit from falling China sales, warns on coronavirus; shares slump

Feb 12 2020

* Structural issues in China hurting Synlait - analyst (Adds details on outlook, CEO comment, analyst comment, shares)

EM ASIA FX-Asian currencies ease as virus weighs on global economic outlook

Feb 07 2020

* Chinese yuan set for second weekly decline * S.Korean won down 0.8%, biggest drop in over 1 week * Singapore dollar set for biggest weekly fall since Nov 2016 (Adds text, updates prices) By Niyati Shetty Feb 7 Asian currencies weakened on Friday, with the South Korean won leading the pack, as the rising death toll and economic damage from the coronavirus epidemic cast a shadow on global economic outlook. The toll in mainland China jumped to 636 by the end of Thursday, up by 73 from the previous day, with the number of infections at 31,161. The yuan slipped as much as 0.2% to 6.983 per dollar, and was poised for its second weekly decline. The Chinese central bank warned that the domestic economy could be disrupted in the first quarter due to the outbreak, adding that a recovery could be expected once the virus is brought under control. "Relief gains this week are now showing signs of slowing as reality check plays catch-up," Maybank analysts said in a note. "Renewed fears of local transmission or rise in spread outside China will dampen sentiment and unwind earlier gains." Upbeat U.S. economic data, China's stimulus measures and positive headlines regarding the Sino-U.S. trade war gave traders some respite this week amid worries over the virus. The won eased as much as 0.8% to 1,188.70 per dollar, marking its biggest intraday drop in more than a week, and was on track to snap two weeks of declines. South Korea's vice finance minister said the virus could have a negative impact on the country's domestic consumption, exports and auto industry, adding that market stabilisation measures would be taken if volatility rises. The Singapore dollar fell marginally, and was poised for a 1.8% weekly drop, its biggest since November 2016. DBS, Singapore's biggest bank, downgraded the city-state's 2020 growth rate to 0.9% from 1.4%, due to an expected economic impact from the coronavirus. The Indonesian rupiah declined 0.4%, while the Thai baht and the Malaysian ringgit softened 0.3% each. Meanwhile, the Philippine peso was little changed, a day after the central bank cut interest rates and said it was prepared for further easing to shield the economy from the coronavirus impact. Earlier on Thursday, India's central bank kept rates on hold but worries about the economic impact of the virus outbreak has raised the chances of further monetary policy easing across Asia this year. The following table shows rates for Asian currencies against the dollar at 0558 GMT. CURRENCIES VS U.S. DOLLAR Currency Latest bid Previous day Pct Move Japan yen 109.870 109.99 +0.11 Sing dlr 1.387 1.3855 -0.07 Taiwan dlr 30.092 30.082 -0.03 Korean won 1187.500 1179.8 -0.65 Baht 31.160 31.07 -0.29 Peso 50.730 50.76 +0.06 Rupiah 13665.000 13615 -0.37 Rupee 71.240 71.20 -0.06 Ringgit 4.133 4.1225 -0.25 Yuan 6.981 6.9720 -0.13 Change so far in 2020 Currency Latest bid End 2019 Pct Move Japan yen 109.870 108.61 -1.15 Sing dlr 1.387 1.3444 -3.04 Taiwan dlr 30.092 30.106 +0.05 Korean won 1187.500 1156.40 -2.62 Baht 31.160 29.91 -4.01 Peso 50.730 50.65 -0.16 Rupiah 13665.000 13880 +1.57 Rupee 71.240 71.38 +0.20 Ringgit 4.133 4.0890 -1.06 Yuan 6.981 6.9632 -0.26 (Reporting by Niyati Shetty in Bengaluru; Editing by Subhranshu Sahu)

Bearish bets re-emerge on Asia FX as virus outbreak fuels growth fears: Reuters poll

Feb 06 2020

Investors wary about the economic impact of the coronavirus outbreak spreading from China turned bearish on most Asian currencies and went short on the baht for the first time since May 2019, a Reuters poll showed.

Asian currencies fall as worries mount over coronavirus epidemic

Jan 30 2020

Asian currencies weakened on Thursday, with the Thai baht sliding to a more than seven-month low, hard hit by worries over the rapid spread of a new virus from China and its economic impact.

EM ASIA FX-Most Asian currencies weaken as virus death toll rises

Jan 28 2020

* S.Korean won weakens 0.8% to near 3-week low * Thai baht declines to over 5-month low * China extends Lunar New Year holidays to Feb. 2 (Adds text, updates prices) By Niyati Shetty Jan 28 Most Asian currencies slid against the dollar on Tuesday, with the South Korean won leading the declines, as the rising death toll from the fast-spreading coronavirus battered appetite for risk. The won slipped as much as 0.8% to its lowest level in nearly three weeks as investors returned from a Lunar New Year break. Asian financial markets extended a global selloff on fears that the new coronavirus, which has claimed 106 lives so far in China and has spread to more than 10 countries, could hit growth in the world's second-largest economy. South Korea, Malaysia, Thailand, Singapore and Taiwan are among the nations that have confirmed cases of the virus. "Across the Asia-Pacific, the downward pressure on local currencies will continue until we see some good news emerging in the Wuhan virus fight," Jeffery Halley, senior market analyst at OANDA, said in a note. He, however, said Asian currencies were "well placed to weather the storm for some time to come" as they had rallied before the viral outbreak. Trading in the onshore yuan was closed for the Lunar New Year holidays, which have been extended by three days to Feb. 2 as China takes further steps to curb the spread of the virus. In the offshore market, the yuan was at 6.9722 versus the dollar, recovering slightly from Monday when it hit 6.9900, the lowest since Dec. 30. Malaysia's rinngit slipped up to 0.5%, while the Indonesian rupiah declined 0.4%. The Thai baht skidded 0.3% to its weakest since August 2019. The Philippine peso and the Indian rupee each firmed 0.2%. There have been no confirmed cases of the virus in the Philippines and India. Meanwhile, a slump in oil prices also supported the rupee. India is among the world's top importers of oil and easing crude prices bode well for the country's trade deficit. Taiwan's financial markets were closed for holidays. The following table shows rates for Asian currencies against the dollar at 0529 GMT. CURRENCIES VS U.S. DOLLAR Currency Latest bid Previous day Pct Move Japan yen 108.970 108.89 -0.07 Sing dlr 1.357 1.3574 +0.01 Korean won 1176.900 1168.7 -0.70 Baht 30.770 30.69 -0.26 Peso 50.810 50.89 +0.16 Rupiah 13650.000 13600 -0.37 Rupee 71.330 71.44 +0.15 Ringgit 4.082 4.0645 -0.43 Change so far in 2020 Currency Latest bid End 2019 Pct Move Japan yen 108.970 108.61 -0.33 Sing dlr 1.357 1.3444 -0.95 Taiwan dlr 30.006 30.106 +0.33 Korean won 1176.900 1156.40 -1.74 Baht 30.770 29.91 -2.79 Peso 50.810 50.65 -0.31 Rupiah 13650.000 13880 +1.68 Rupee 71.330 71.38 +0.07 Ringgit 4.082 4.0890 +0.17 Yuan 6.937 6.9632 +0.38 (Reporting by Niyati Shetty in Bengaluru; Editing by Subhranshu Sahu)

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